Tag Archives: launching
Greenergy To Tap Chinese Biomass Sector With Acquisition, 15 New Plants
Published 24 May 2013 Renewable energy company Greenergy Holdings is outlining extensive expansion plans by launching a line of biomass facilities in China by the third quarter of 2013. The company is keen to boost its capacity by developing 15 biomass plants in Heilongjiang province. Confirming the expansion plans, Greenergy president and CEO Antonio Tiu told the Inquirer that the company’s first project planned in China would have a capacity of 4MW. The company is gearing up to acquire a majority stake in Zhongshe Renewable Energy that owns four biomass facilities, each having 1MW capacity, added Tiu. “We recently signed the term sheet and are now conducting due diligence,” revealed Tiu, suggesting that the deal would close by the third quarter. Upon closing this acquisition deal, the company is planning to take up development of biomass plants in collaboration with the Heilongjiang Beidahuang Seed Group. Beidahuang will provide rice hull as feedstock to the plants from its farming business, as a part of partnership. Continue reading
